Egyptian magnate promises heavy investment | ASHARQ AL-AWSAT

Egyptian magnate promises heavy investment | ASHARQ AL-AWSAT:

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Egyptian Naguib Sawiris, chairman of the Orascom Telecom Holding, looks on during the St. Gallen Symposium at the University of St. Gallen, Switzerland, 02 May 2013. EPA/GIAN EHRENZELLER

Egyptian businessman Naguib Sawiris, whose family control the Orascom business empire, has said he and his brothers intend to inject investment into Egyptian economy “like never before,” following the ouster of Mohamed Mursi.
Sawiris, who criticized Mursi in an interview with Reuters, said: “The president’s [Mursi's] government tried to either appeal to senior company officials or impose heavy taxes on them,” as they did with his family’s business, because he was on the side of the opposition.

The eldest of three wealthy brothers, Sawiris spent time outside Egypt in self-imposed exile, and returned in May after a compromise was reached with Orascom Construction Industries, which is managed by his brother Nasif Sawiris, in relation to tax evasion allegations."

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